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G-Tekt fiscal Q1 profit falls YOY

G-Tekt Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥21.67 per share, a decrease of 43.1% from ¥38.09 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥951.0 million, a decrease of 43.1% from ¥1.67 billion in the year-earlier period.

The normalized profit margin fell to 2.2% from 3.9% in the year-earlier period.

Total revenue came to ¥43.29 billion, compared with ¥43.22 billion in the year-earlier period, and total operating expenses rose year over year to ¥41.19 billion from ¥40.05 billion.

Reported net income declined 48.9% from the prior-year period to ¥995.0 million, or ¥22.67 per share, from ¥1.95 billion, or ¥44.34 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.